Workday, Inc. (NASDAQ:WDAY) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. grew its stake in Workday, Inc. (NASDAQ:WDAY) by 10.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,412 shares of the software maker’s stock after acquiring an additional 135 shares during the quarter. Kovack Advisors Inc.’s holdings in Workday were worth $345,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WDAY. ORG Partners LLC grew its stake in shares of Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after buying an additional 3,123 shares during the period. Grafton Street Partners Fund LP purchased a new position in Workday in the third quarter worth approximately $4,424,000. O Shaughnessy Asset Management LLC increased its stake in Workday by 42.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock worth $3,649,000 after acquiring an additional 3,965 shares during the last quarter. Vanguard Group Inc. increased its stake in Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after acquiring an additional 324,540 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Loop Capital raised their price objective on Workday from $255.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday. DA Davidson lifted their price target on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $285.00 price objective on shares of Workday in a report on Wednesday, September 18th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research report on Thursday, September 19th. Finally, Morgan Stanley cut their target price on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $287.59.

Workday Stock Down 4.4 %

Workday stock opened at $259.41 on Friday. The stock has a market cap of $68.74 billion, a PE ratio of 45.19, a P/E/G ratio of 5.39 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The stock’s fifty day moving average is $246.64 and its two-hundred day moving average is $236.52. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. On average, sell-side analysts expect that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Insider Activity

In other news, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the sale, the insider now directly owns 85,795 shares of the company’s stock, valued at approximately $20,228,745.10. The trade was a 3.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. This represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 370,575 shares of company stock worth $91,506,897. Corporate insiders own 20.00% of the company’s stock.

Workday Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.